Barclays Loan and Activ kapital

ultimatestirrer

I have been trying to help a friend who had a large Barclays loan for several years with PPI on it, in the early 2000s he defaulted and the debt was passed amongst the usual and ended up with Activ Kapital chasing him for a few years. In 2006 he ended up paying Activ Kapital a final settlement figure and the matter was closed.

However, since contacting Barclays regarding the PPI they claim there is no record of the loan and as such we not entertain a PPI claim

Activ Kapital have been helpful and sent through all documentation they hold on file, but still Barclays refuse to budge, possible although they have not said this but because the matter is over 6 years.

Any advice?
Thanks in advance

dazza12

There is effectively no time limit on a PPI complaint, so the 6 year rule doesn't apply.

Your first step is to get an SAR. It costs £10 and Barclays will search their records for any information. Occasionally they'll insist they hold no records beyond 6 years, but in many cases they've supplied older data, commonly from the late 1990s, so it may involve a further letter to them insisting they search their records thoroughly.

Be as helpful as possible, giving any account numbers or dates, this will make their job easier, but don't worry if you don't have this information.

dunstonh

As dazza says, there is no 6 year rule. However, companies are required to destroy old data. There are no rules on when but in many areas, the regulator recommends 6 years. Barclays do destroy data after 6 years in a number of areas (barclaycard only keep a running 6 years statements for example).

It should be noted that even if barclays find information. Then provide it and a complaint is made and that complaint is upheld, they are allowed to use the redress against the amount of the debt they lost out on by it not being paid. a final settlement figure is a figure agreed that they will no longer chase you. It doesnt mean the redress will become yours.

[Deleted User]

ultimatestirrer wrote: »

In 2006 he ended up paying Activ Kapital a final settlement figure and the matter was closed.

It's important, before spending money on SAR letters etc, to realise that the Bank is likely to offset any redress awarded from a potential PPI complaint.
The matter may have been "closed" in 2006, but you still failed to pay the full amount owed. If the amount of redress is less than you failed to pay then you stand to get nothing at all.